The Flemish Government, together with the insurers, will reimburse every Fleming 100% for the damage suffered as a result of the flooding. The Flemish Disaster Fund is allocating a maximum of 79 million euros for this. In addition, the insurers are doubling their financial effort. An agreement has been reached with Assuralia for this.
Flemish Prime Minister Jan Jambon
“I am very pleased that the Flemish government and the insurers can both pull out all the stops to deal with this unprecedented disaster. The insurance companies are prepared to contribute a lot more than the insurance law requires. As a government, we cover the difference, so that no one is left out in the cold. “
Flanders will compensate the damage via the Flemish Disaster Fund in addition to the compensation paid by the insurers. Given the magnitude of the total claim, insurers are protected by law to guarantee their solvency. This law provides for ceilings on the intervention of insurers in the event of major natural disasters. The insurance sector will double its effort to 44 million euros as far as Flanders is concerned and fully compensate every insured victim, even if the damage burden would exceed the legal limit. On top of this part paid out by the insurers, the Flemish Government has now decided to pay the balance to the victims of the flood.
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